Just as jury selection was beginning for the trial that would determine how Iverson's $18 million in assets would be divided, the former couple reached out to each other through their attorneys and decided to settle out of court.

While the specifics of the settlement are being kept under wraps, Iverson's attorney, Melanie Fenwick Thompson, did release a statement, saying, “Our client is extremely pleased with the outcome of the case."

Interestingly, the judge presiding over the case also held court in the custody battle between Usher and Tameka Raymond, and Tawanna Iverson's attorney also represented Tameka in her divorce.

BET.com is your #1 source for Black celebrity news, photos, exclusive videos and all the latest in the world of hip hop and R&B music.Click here to subscribe to our newsletter.